The global foot and ankle devices market size is expected to reach USD 7.1 billion by 2030, registering a CAGR of 6.9%
This growth is due to the rapidly developing healthcare infrastructure, the increasing number of foot & ankle surgical procedures, the increased incidence of obesity & diabetes, and the growing use of patient-specific solutions.
Key industry players have seen a decline in net sales during the pandemic. This was mainly due to a decreased number of surgeries related to the foot and ankle. However, the market started recovering as major players started focusing on strategic initiatives, such as new product launches, mergers, acquisitions, and collaborations with other companies.
Also, COVID-19 has dramatically improved the role of digital healthcare in foot and ankle surgeries. At the American Academy of Orthopedic Surgeons (AAOS) Conference 2021, many orthopedic athletes showcased their dedication to digital orthopedic treatment.
Johnson & Johnson demonstrated their VELYS Digital Surgical Platform, which uses robotics, data insights, and digital technology to enhance patient care. Mymobility with Apple Watch, a remote care management tool created to assist healthcare providers in remotely supporting & guiding patients as they get ready for and recuperate from orthopedic surgeries, was shown by Zimmer Biomet with promising results.
The rising geriatric population is leading to market growth. Foot injury cases are increasing in the elderly due to the growing requirement for higher physical activity to maintain fitness. Trauma and injuries, eyesight problems, and falls due to poor balance and coordination may lead to ankle and foot injuries.
According to the WHO, globally, one in six individuals will be 60 years or older by 2030. This number will double by 2050. (2.1 billion).
Foot And Ankle Devices Market Report Highlights
- The orthopedic fixation segment dominated the industry in 2022 due to the high number of ankle fractures that require surgeries.
- In terms of application, the trauma segment dominated the global industry in 2022
- Asia Pacific is anticipated to register the fastest CAGR over the forecast period due to the rising cases of foot & ankle fractures as a result of the high incidence of sports accidents.
- Key companies are focusing on various strategic initiatives to strengthen their services and gain a competitive advantage over others.
- For instance, in June 2022, Enovis Corp. announced its subsidiary DJO, LLC launched a new MaxTrax 2.0 Air and ProCare MaxTrax 2.0 Walking Boots.
- The MaxTrax 2.0 is designed for tailored healing with dependable support, personalized fit, and improved comfort. It expands upon the company’s market-leading MaxTrax walking boot.
Company Profiles
- Stryker Corporation
- Johnson & Johnson (De PuySynthes)
- Zimmer Biomet Holdings, Inc.
- Smith & Nephew plc
- Ossur
- Envois
- Acumed, LLC
- Arthrex, Inc.
- Paragon 28
- Orthofix
Key Topics Covered:
Chapter 1. Methodology and Scope
Chapter 2. Executive Summary
2.1. Market Snapshot
2.2. Segmental Snapshot
2.3. Competitive Insights Snapshot
Chapter 3. Market Variables, Trends, and Scope
3.1. Market Lineage
3.1.1. Parent Market Analysis
3.1.2. Ancillary Market Analysis
3.2. Foot and Ankle Devices Market – Market Dynamics
3.2.1. Market Driver Analysis
3.2.1.1. Increasing expenditure on research & development (R&D) by industry players
3.2.1.2. Rising geriatric population
3.2.1.3. Increasing prevalence of target diseases
3.2.1.4. Rising incidence rate of road accident
3.2.2. Market Restraint Analysis
3.2.2.1. High cost of foot and ankle devices
3.2.2.2. Uncertainty in regulatory reforms
3.3. Business Environmental Tools Analysis: Foot and Ankle Devices Market
3.3.1. Porter’s Five Forces Analysis
3.3.2. PESTLE Analysis
3.4. Covid-19 Impact Analysis
Chapter 4. Foot and Ankle Devices Market: Product Estimates & Trend Analysis
4.1. Foot and Ankle Devices Market, By Product: Key Takeaways
4.2. Foot and Ankle Devices Market: Method Movement & Market Share Analysis, 2022 & 2030
4.3. Bracing & Support
4.4. Joint Implants
4.5. Soft Tissue Orthopedic Devices
4.6. Orthopedic Fixation
4.7. Prosthetics
Chapter 5. Foot and Ankle Devices Market: Application Estimates & Trend Analysis
5.1. Foot and Ankle Devices Market, By Application: Key Takeaways
5.2. Foot and Ankle Devices Market: Application Movement & Market Share Analysis, 2022 & 2030
5.3. Hammertoe
5.4. Trauma
5.5. Osteoarthritis
5.6. Rheumatoid Arthritis
5.7. Neurological Disorders
5.8. Bunions
5.9. Osteoporosis
Chapter 6. Foot and Ankle Devices Market: Regional Estimates & Trend Analysis
6.1. Foot and Ankle Devices Market: Regional Movement Analysis, 2022 & 2030
Source: https://www.businesswire.com/
